Overnight price action was within yesterday’s value area. Overnight high tested Wednesday’s VPOC and price came down and has taken out Asian low. With overnight VPOC just above yesterday’s.
Economic figures out earlier were worse than expected, however had little effect on price. The main driver is the US-China trade decision. All things being equal price is...
Today I believe it’s going to be a balanced profile day as market awaits Sino-US trade talks outcome.
Overnight price traded within yesterday’s value area. I believe price will come down to test yesterday’s lows before going up to test overnight VPOC or try to take out overnight high before falling back within the range -baring any unexpected news of course.
Basically price /market has rejected everything that occurred on Friday.
I did point out that smart money was balancing their books. They did that beautifully. A long of longs got trapped and accounts blown!
One rule of thumb – too many speeches on the day, obfuscate price action. Add Trump tweets and China-US trade war and it being Friday.
Note how the drop came...
After an eventful price action yesterday, price calmed down overnight with a slow grind pullback.
Today I am expecting the price to retest the top of the value area high and take out the overnight highs before coming back down and taking the lows of yesterday. If the lows are taken expecting price to test the weekly VPOC.
An interesting week ahead. China trade relations raising it’s head. October highs stealthily taken out overnight, on low volume. More earnings reports out this week. Beware of traps!
I think the market with try to establish value at Friday’s POC before deciding whether to retest the overnight high or continue to the downside.
Wait and see what the initial...
Overnight price has been confined below yesterday's POC, around the value area low. Price rejected the low pricing. During London morning session, price still undecided. Positive GDP figures pushed up price.
I am expecting price to test overnight highs and lows, and possible yesterday’s low, before going up to take out the weekly high.
A couple of figures still...
Another day of earnings and uncertainty. Nasdaq made higher highs after earnings reports after market close. Dow lost some of the gains made on Tuesday. This has left S&P a bit flustered. There is no clear directional bias on intra-day. Overnight price action, particularly during London, held in a very narrow range. Maybe those in the know, know something retail...
An interesting day, price-action wise, yesterday.
Today, more Q1 earnings reports – may put spanner in the works.
Overnight, price coiled around the highs of yesterday. Price is above yesterday’s POC and has tested yesterday’s high several times.
My take is that price will shoot through the October highs. As to whether it continues, that’s down to earnings...
The first day back from a long weekend. Yesterday's trading volume was rather low as expected, since most of Europe was on holiday. Today, Tuesday, overnight session trading was confined to a narrow range of 6pts within the highs of yesterday's NY session. On open, I am expecting the price to test yesterday's highs.
Note this week heavy on Q1 earnings. Rather...
Ladder sells slowly if price rises once more, if price drops from here, then it may be best to not enter as the risk to reward ratio will likely be less than 1:1. Keep your
stop loss at the 78.6% retracement of wave (a) or is there is a break above the horizontal channel with high volume, you should exit this trade.
This is not financial advice and is only for...
Potential short set up on US Oil based off my simple 15minute day trading strategy.
- Price is rejecting daily pivot level for a 2nd time today.
- Price is rejecting the 200 EMA
- 50EMA is below the 200EMA.
- 15 minute lower high/double top at daily pivot level
- RSI showing overbought
Stop loss is placed above current highs.
Profit Target 1 is the daily S1...
I thought I would give you guys a little money making opportunity if you missed out before yesterday, no worries.
First trade opportunity: buy at 0.315 and sell at 0.324, which is 2.8% profit. Next target, 0.341.
Second trade opportunity: buy at 0.305 and sell at 0.315, which is 3.2% profit. Next target, 0.324
In both cases, you want to sell a part of your...
In the chart above we are looking at the AUD/JPY pair on the 12hr.
To precisely enter successful reversals we need to maintain a very strict trading criteria in order to benefit the most out of our reversal trades.
Questions we need to ask before entering a strong reversal:
- Who is in control of price?
- Have we reached a strong area of Support/Resistance?
At 6am we witnessed a bullish breakout candle breaking past the 0.67572 resistance zone. Before price continues in a bullish continuation trend, there will be a retest of this key level along with the 50% Fib level.
Price should retrace from this level and continue heading up. We have two targets in place:
Target 1 is placed at 0.67876
Target 2 is placed at...
Here is what I see for GBPUSD.
I see a head and shoulders pattern forming. The neckline of the pattern is inline with a support zone, if price can melt and turn support to resistance than we might
get a drop from neckline to end of lowest point of H1 Support.
Potentially we could see a bigger drop if you check 1D Chart and H4 Chart.
Will also publish those...